Text in front of text transparency
If only I could get more details as to what exactly you expect from the software, I might be able to answer your question right. 

However, from you explanation, I replicated that, and I'm not seeing any problem. 



What version of blender are you using? You built from source or downloaded from blender.org?

I just set my transparency to the desired value in the materials tab in the properties panel and all seem to go well. 

By the way, I used the bge too.